Except as provided in any financing or security document entered into or any bond issued under this subchapter, each of the parties to the financing or security document or any bondholder may enforce the obligation of any other person to him or her under the bond or instrument by appropriate legal proceedings in a court of competent jurisdiction. A receiver may be appointed for an eligible facility in any such proceeding. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1975, No. 18, § 15, eff. March 27, 1975; 1993, No. 89, § 3(b), eff. June 15, 1993.)